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ZEC $1,301 Kraken parent Payward secures full Dubai license for UAE crypto launch
Payward, parent of crypto exchange Kraken, has received final regulatory approval from Dubai's VARA to launch crypto services for UAE retail, professional and
Key takeaways
- 100+ global licenses. Payward holds more than 100 licenses and registrations across Europe, the Americas, Asia-Pacific and the Middle East.
- May 2026 preliminary approval. Payward first received preliminary VARA clearance in May 2026 before securing full market approval.
- 2026-2027 planned expansions. Crypto derivatives and additional yield products are planned for launch in late 2026 and 2027, pending regulatory approval.
What happened
Payward, the parent company of cryptocurrency exchange Kraken, has secured Full Market Approval from Dubai's Virtual Assets Regulatory Authority (VARA) to launch regulated crypto services in the United Arab Emirates. The approval permits Payward to operate as a regulated Virtual Asset Service Provider for retail, professional and institutional investors in the UAE.
The initial UAE offering will include spot and margin trading with UAE dirham (AED)-denominated pairs, direct AED deposits and withdrawals, on-chain staking, tokenized equities via xStocks, and institutional services including over-the-counter spot trading and Kraken Prime. Crypto transfers via the Krak tool will also be supported at launch.
The approval follows preliminary VARA clearance granted to Payward in May 2026, which allowed the company to complete local operational setup ahead of customer onboarding. Payward has not announced an exact launch date for UAE customers, but said the rollout will connect users to its existing global trading infrastructure and liquidity network.
Why it matters
The full VARA approval marks the final regulatory stage for Payward's UAE entry, allowing it to begin onboarding clients under Dubai's virtual asset licensing framework. The launch expands Kraken's global footprint, adding the UAE to its list of regulated markets, and will give local customers access to the same order book and multi-asset coverage available in the exchange's other operating regions. Payward also plans to offer its trading infrastructure to regional financial firms via embedded trading services.
What is still unclear
- The exact date for the public launch of Kraken's UAE services has not been disclosed by Payward.
Questions readers ask
What services will Kraken offer in the UAE at launch?
At launch, Kraken UAE will support spot and margin trading with AED-denominated pairs, direct AED deposits and withdrawals, on-chain staking, tokenized equities via xStocks, crypto transfers via Krak, and institutional services including OTC spot trading and Kraken Prime.
Who regulates Kraken's UAE operations?
Kraken's UAE operations will be regulated by Dubai's Virtual Assets Regulatory Authority (VARA) under the emirate's Virtual Asset Service Provider licensing framework.
Will Kraken offer crypto derivatives in the UAE?
Payward plans to introduce crypto derivatives in the UAE later in 2026 and 2027, but this is subject to additional regulatory approval.
